The Manufacturers Life Insurance Company Invests $1.72 Million in Acushnet $GOLF

The Manufacturers Life Insurance Company bought a new stake in Acushnet (NYSE:GOLF) in the 2nd quarter, Holdings Channel reports. The fund bought 14,533 shares of the company’s stock, valued at approximately $1,723,000.

Other large investors have also added to or reduced their stakes in the company. Millstone Evans Group LLC lifted its holdings in Acushnet by 170.2% in the 1st quarter. Millstone Evans Group LLC now owns 281 shares of the company’s stock worth $26,000 after buying an additional 177 shares in the last quarter. Brown Brothers Harriman & Co. boosted its position in Acushnet by 389.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock valued at $26,000 after buying an additional 261 shares during the last quarter. Kelleher Financial Advisors acquired a new stake in shares of Acushnet during the third quarter valued at about $28,000. Global Retirement Partners LLC acquired a new stake in shares of Acushnet during the second quarter valued at about $36,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Acushnet by 149.7% during the second quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock worth $36,000 after acquiring an additional 295 shares during the last quarter. 53.12% of the stock is owned by institutional investors and hedge funds.

Acushnet Stock Down 0.4%

NYSE:GOLF opened at $86.51 on Friday. The company has a market capitalization of $5.05 billion, a price-to-earnings ratio of 23.57 and a beta of 0.80. Acushnet has a one year low of $73.09 and a one year high of $119.65. The stock has a 50-day simple moving average of $101.32 and a 200 day simple moving average of $97.38. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.48 and a current ratio of 2.55.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Thursday, August 6th. The company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.45. Acushnet had a return on equity of 27.98% and a net margin of 8.12%.The firm had revenue of $819.95 million for the quarter, compared to analysts’ expectations of $788.24 million. During the same quarter in the prior year, the firm posted $1.25 earnings per share. Acushnet’s revenue for the quarter was up 13.8% compared to the same quarter last year. Sell-side analysts predict that Acushnet will post 4.02 EPS for the current fiscal year.

Acushnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, September 4th. Acushnet’s payout ratio is 27.79%.

Insider Activity

In related news, insider Nicholas N. Mohamed sold 529 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $95.00, for a total transaction of $50,255.00. Following the sale, the insider directly owned 2,868 shares of the company’s stock, valued at approximately $272,460. This represents a 15.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 53.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on GOLF. Weiss Ratings raised Acushnet from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Wall Street Zen upgraded Acushnet from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Roth Capital reissued a “neutral” rating and set a $95.00 price target on shares of Acushnet in a research report on Friday, August 7th. Truist Financial raised their price target on shares of Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a research report on Tuesday, May 19th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $99.17.

About Acushnet

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.